HUGE GROUP LIMITED - Completion of the ConnectNet transaction

Completion of the ConnectNet transaction

HUGE GROUP LIMITED
(Registration number 2006/023587/06)
Share code: HUG ISIN: ZAE000102042
(Huge or the Company)


COMPLETION OF THE CONNECTNET TRANSACTION


Shareholders are referred to the announcements released on SENS on
17 November 2016, 15 December 2016 and 14 February 2017, respectively,
regarding, inter alia, the purchase by the Company of 100% of the shares in
ConnectNet Broadband Wireless Proprietary Limited (ConnectNet) by way of
a subscription for 185 new ConnectNet shares and the repurchase of 122
existing ConnectNet shares and are advised that all the conditions
precedent to the Subscription and Repurchase Agreement (the SRA)
concluded by the Company, ConnectNet and the Relevant Shareholders (as
this term is defined in the SRA) have been fulfilled and that, accordingly,
ConnectNet has become a wholly-owned subsidiary of Huge.

Sainet Internet Proprietary Limited, a wholly-owned subsidiary of ConnectNet,
has, in terms of an internal restructure, been sold to Huge Telecom Proprietary
Limited, a wholly-owned subsidiary company of Huge.

Johannesburg
30 March 2017

Sponsor:
Questco Proprietary Limited

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